Apollo Global Management Inc. $APO Shares Newly Purchased by Sanders Morris Harris LLC

Key Points

• Sanders Morris Harris LLC acquired 9,590 Apollo Global Management shares worth approximately $1.1 million in the third quarter. Institutional investors collectively own 77.06% of APO, with several major firms increasing their positions.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and six Holds. Apollo has a consensus rating of Moderate Buy and an average price target of $152.60.
• APO shares fell 2.4% to $113.44, while the company’s latest quarterly results missed revenue and EPS expectations. Apollo pays a $0.5625 quarterly dividend, equating to a 2.0% annualized yield.

Sanders Morris Harris LLC acquired a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,590 shares of the financial services provider's stock, valued at approximately $1,113,000.

A number of other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apollo Global Management by 4.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock worth $669,372,000 after purchasing an additional 234,517 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $459,987,000. Bank of New York Mellon Corp raised its holdings in Apollo Global Management by 7.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,901,110 shares of the financial services provider's stock worth $323,242,000 after purchasing an additional 188,668 shares in the last quarter. Temasek Holdings Private Ltd lifted its holdings in Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock worth $263,861,000 after buying an additional 1,614,813 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Apollo Global Management by 15.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,976,083 shares of the financial services provider's stock worth $220,149,000 after purchasing an additional 266,732 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on APO. TD Cowen reduced their price objective on Apollo Global Management from $159.00 to $154.00 and set a "buy" rating for the company in a research report on Monday. Royal Bank Of Canada lifted their target price on shares of Apollo Global Management from $137.00 to $146.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Wells Fargo & Company started coverage on Apollo Global Management in a research note on Friday, October 2nd. They set an "equal weight" rating and a $127.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Apollo Global Management from $150.00 to $154.00 and gave the company an "overweight" rating in a research report on Wednesday, September 2nd. Finally, Jefferies Financial Group lowered their price target on shares of Apollo Global Management from $138.00 to $127.00 and set a "hold" rating on the stock in a report on Tuesday, October 6th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $152.60.

Apollo Global Management Trading Down 2.4%

NYSE APO traded down $2.84 during trading hours on Wednesday, hitting $113.44. 4,647,116 shares of the company were exchanged, compared to its average volume of 4,244,881. The stock has a 50-day moving average price of $127.73 and a 200 day moving average price of $125.17. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The stock has a market cap of $66.99 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. Analysts forecast that Apollo Global Management Inc. will post 8.00 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 2.0%. Apollo Global Management's payout ratio is presently 82.42%.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.30% of the company's stock.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.

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